since july, oil prices have lost half their value since july falling from $100 to even below $50 a barrel today making up a little bit of ground still falling over 4% however. the way wall street sees it this is unsettling when one particular area of the economy is in free fall that leaves a lot of uncertainty. uncertainty about where the bottom is. there s really no sense of where and when oil prices will stop falling this much. now at the same time wall street is uncertain about it and it s unsettling for wall street. for us who use gas to drive in our cars and to use it for our home heating oil, we re really enjoying it. right now the average price for a gallon of regular is at $2.20. that s down from a high of $3.68 over the summer. if you look at gas stations across the country, wolf, almost 40% of the gas stations in the u.s. gas is below $2 a gallon. wolf. alison as you know goldman
oil prices are plummeting. they hit a five and a half year low just this morning, cnn s chief business correspondent christine romans joining me now with the latest. christine, how low will they go? trying to find a floor in oil prices $50 for a barrel of crude is remarkable. i mean crude oil prices ana, have been cut in half just since this summer and that s really spilling over into you can see that. that is an amazing chart to look at. $107 a barrel just in june and july and then now down to 50. that causes dislocations all over the place. but what it really causes is low gas prices. that s good for you. gas prices today $2.20 a gallon the summer peak $3.68. when i talk about dislocation, i m talking about oil companies. oil companies, all of the energy stocks have been really hammered and they re helping drag down the overall market here. the dow down about 1% right now, down 181 points. also causes geopolitical tensions for example.
the president hosts leaders at the white house in spring. time for a look at your money. expect solid gains this year but not double digit returns. oil prices keep sliding this morning. crude oil with a fresh five and a half year low. crude oil $52 a barrel. they are expected to stay low through the year. drivers can expect gas prices to stay low. the average price for a gallon of regular, $2.20. we will get a look at december auto sales later this morning. expecting strongest sales in six years. demand for trucks and suvs. when you get low gas prices people forget. when gas is $6 that suburban will be expensive. 37 minutes past the hour. somber ceremony for a new york
cnn s chief business correspondent christine romans is joining me with the latest. we saw it down 100 an hour ago and now 205. that s over 1% when you think about how far we ve come you can see this morning they re taking some off the table. the reason is commodities, frankly. oil prices at a 5.5 year low, about $50 a barrel. think of that. anna look at that chart, look that s the decline in crude oil prices since this summer and that s taken gasoline prices down with it. that s been great for you and me. it s been great for drivers. $2.20 is the price per gallon and it s expected to stay in the zone maybe even all year. but it s terrible news for companies in the oil industry. so you can see that in the oil industry all those oil stocks are falling today. commodity-related stocks are falling, other commodity, metal stocks are falling. one of the reasons for that is because you ve got the dollar up against the euro so that s been hammering the commodities and now you have stocks fall
was only one person to blame president obama. gasoline prices have doubled under this president. doubled. the president, who has seen gas prices more than double on his watch. and since the day that president obama first took office, gas prices have doubled. gas prices have more than doubled over the past four years. doubled in just four years. he gets full credit or blame for what s happened in this economy. and what s happened to gasoline prices under his watch. mitt romney had one thing right, president obama certainly got all the blame for high gas prices but now the national average for gas has dropped to just below $2.20 a gallon. that s great news. so president obama s getting all the credit right? wrong. over at the propaganda wing of the gop, they re scrapping the bottom of the barrel with all